In the ongoing year, the Union government's capital-expenditure allocation, for instance, stands at 3.4 per cent of gross domestic product. However, reliance on government spending to drive economic growth is not sustainable in the long run because of fiscal constraints at both the Union and state levels. As the fiscal space tightens, it will be important for private investment to pick up to sustain economic growth over the medium to long term.
In this regard, the recent data from the Reserve Bank of India (RBI) showed a rising capacity utilisation rate in manufacturing. As of the fourth quarter of 202324, capacity utilisation reached a decadal high, consistently hovering around 75 per cent since the third quarter of 2021-22. Higher capacity utilisation typically encourages businesses to expand their production capabilities, thereby driving new investment.
この記事は Business Standard の August 22, 2024 版に掲載されています。
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この記事は Business Standard の August 22, 2024 版に掲載されています。
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